Lam Research Co. (NASDAQ:LRCX) Given Average Rating of “Buy” by Brokerages

Lam Research Co. (NASDAQ:LRCX) has been assigned a consensus recommendation of “Buy” from the twenty-nine analysts that are currently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $308.04.

A number of research firms have recently weighed in on LRCX. Stifel Nicolaus cut their price objective on Lam Research from $358.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. JPMorgan Chase & Co. dropped their target price on Lam Research from $340.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Barclays initiated coverage on Lam Research in a report on Tuesday, May 26th. They issued an “overweight” rating and a $315.00 target price on the stock. Nomura increased their target price on Lam Research from $265.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, ValuEngine raised Lam Research from a “sell” rating to a “hold” rating in a report on Tuesday, March 24th.

NASDAQ:LRCX traded up $0.49 during trading hours on Tuesday, reaching $271.46. 1,682,795 shares of the stock were exchanged, compared to its average volume of 2,228,522. The company has a quick ratio of 3.67, a current ratio of 4.47 and a debt-to-equity ratio of 1.11. The business has a 50-day moving average of $261.42 and a two-hundred day moving average of $277.22. Lam Research has a twelve month low of $171.04 and a twelve month high of $344.32. The company has a market capitalization of $39.10 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 1.39 and a beta of 1.33.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 22nd. The semiconductor company reported $3.98 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.98. Lam Research had a return on equity of 47.79% and a net margin of 21.81%. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the company earned $3.70 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, research analysts forecast that Lam Research will post 15.39 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th will be given a dividend of $1.15 per share. The ex-dividend date is Tuesday, June 16th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.69%. Lam Research’s payout ratio is 31.62%.

In other news, CEO Timothy Archer sold 28,910 shares of Lam Research stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $270.00, for a total transaction of $7,805,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.43% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in Lam Research by 1.2% in the 1st quarter. BlackRock Inc. now owns 12,655,695 shares of the semiconductor company’s stock worth $3,037,366,000 after buying an additional 148,341 shares in the last quarter. State Street Corp lifted its holdings in Lam Research by 0.4% in the fourth quarter. State Street Corp now owns 6,447,102 shares of the semiconductor company’s stock worth $1,892,306,000 after acquiring an additional 23,438 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Lam Research by 2.9% in the first quarter. Geode Capital Management LLC now owns 2,572,143 shares of the semiconductor company’s stock worth $616,431,000 after acquiring an additional 72,678 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Lam Research by 32.3% in the first quarter. Nuveen Asset Management LLC now owns 2,112,376 shares of the semiconductor company’s stock worth $506,970,000 after acquiring an additional 516,115 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Lam Research by 4.3% in the fourth quarter. AQR Capital Management LLC now owns 1,854,837 shares of the semiconductor company’s stock worth $540,574,000 after acquiring an additional 76,302 shares during the last quarter. 85.09% of the stock is owned by institutional investors and hedge funds.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Analyst Recommendations for Lam Research (NASDAQ:LRCX)

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